Facelift in Store for Central Corridor Hotel
- Jul 14, 2015
By Anca Gagiuc, Associate Editor
Embassy Suites Austin–Central is under new ownership. Stonebridge Cos. acquired the 260-key hotel in the city’s Central Corridor for an undisclosed amount. Bill Murney of HREC Investment Advisors’ Phoenix office with Scott Stephens of the company’s Tampa office arranged the sale, representing the seller, FelCor Lodging Trust.
Located at the intersection of I-35 and Highway 290, the all-suite hotel is a few minutes’ drive from downtown Austin, the University of Texas at Austin, and many other points of interest. It offers a spacious indoor atrium and almost 10,000 square feet of function space that can accommodate up to 400 guests.
Stonebridge plans a multimillion-dollar facelift that will feature what the new owner describes as groundbreaking architectural adaptive reuse techniques. Throughout the restoration, the hotel will remain open to guests.
Image courtesy of Stonebridge Cos.